Question & Answer: The following information was taken from the accounting records of XYZ…..

The following information was taken from the accounting records of XYZ
Company for the year ended December 31, 2021:

    Utilities payable ...........  $12,000
    Trademark ...................     ?
    Retained earnings ...........  $37,000 (at January 1, 2021)
    Inventory ...................  $26,000
    Accumulated depreciation ....  $15,000
    Cash ........................  $11,000
    Mortgage payable ............  $30,000 (due April 1, 2024)
    Cost of goods sold ..........  $35,000
    Building ....................     ?
    Income tax expense ..........  $24,000
    Patent ......................  $17,000
    Utilities expense ...........     ?
    Interest revenue ............  $55,000
    Accounts payable ............  $27,000
    Dividends ...................     ?
    Notes payable ...............  $39,000 (due October 1, 2022)
    Accounts receivable .........  $36,000
    Sales revenue ...............  $94,000
    Equipment ...................  $79,000
    Common stock ................  $81,000
    Advertising expense .........  $14,000
    Supplies ....................  $21,000

The following additional information is available:

    1.  The total P-P-E at December 31, 2021 was double the amount of
        total current liabilities at December 31, 2021.

    2.  25% of XYZ Company's 2021 net income was paid to stockholders
        as dividends.

    3.  Total equity at December 31, 2021 was equal to $163,000.

Calculate the balance in the building account at December 31, 2021. Do
not use decimals in your answer.